Tesla has issued a remote recall of 1.7 million vehicles in China due to an issue with the front trunk lid. According to reports, a software issue may cause the front trunk lid to not be detected when unlocked, resulting in a potential safety hazard. Affected vehicles include, imported Model S and X vehicles and…
Woodside Energy: $2.35 Billion Ammonia Project Deal
Woodside Energy Group Ltd, the Australian petroleum exploration and production company, has announced the acquisition of a clean ammonia project in Texas for $2.35 billion USD in cash as it seeks to grow its lower-carbon offering and cut emissions from its products. According to reports, this deal will give Woodside the ‘early-mover’ advantage in the…
Infineon Cuts 1,400 Jobs
Infineon Technologies AG is Germany’s largest semiconductor manufacturer, founded in 1999 and headquartered in Neubiberg, Germany. It designs, develops, manufactures, and markets semiconductors and related products. According to reports, Infineon has announced plans to cut 1,400 jobs globally, as part of a cost savings program. The cuts include the cancellation of several hundred positions at…
Intel To Layoff 15,000 Employees
Intel, the multinational technology company, has announced plans to lay off 15,000 employees, which amounts to 15% of its workforce, as part of a global restructuring aimed at cutting costs. According to reports, the layoffs are expected to be completed by the end of 2024 and will reduce spending by $10 billion USD in 2025….
Bungie To Layoff 220
Bungie, Inc. is an American video game company founded in 1991 and headquartered in Bellevue, Washington. It is a subsidiary of Sony Interactive Entertainment. Some of its video game franchises are Halo, Marathon, and Destiny. According to reports, Bungie has announced plans to lay off 220 employees, which amounts to 17% of the company’s workforce,…
Canva: Leonardo.ai Acquisition Deal
Canva, the online design platform, has announced the acquisition of Leonardo.ai, a generative AI content and research startup, as it aims to become a leader in the rapidly evolving world of AI-powered design tools. According to reports, Leonardo.ai’s technology will be integrated into Canva’s existing Magic Studio suite, significantly enhancing its generative AI capabilities. The…
Hyundai Recalls Over 49,700 Vehicles
Hyundai has issued a recall of over 49,700 vehicles in the United States due to an issue that could affect the operation of the airbags. According to reports, the main floor wiring harness may become damaged due to friction with the passenger side second-row bench seat assembly. The damage may cause the airbags to deploy…
CBIZ: $2.3 Billion Marcum Acquisition Deal
CBIZ, Inc. is a professional service company that provides a range of insurance and advisory services to a diverse clientele. It was founded in 1987 and is headquartered in Cleveland, Ohio. According to reports, CBIZ has agreed to acquire Marcum, one of the biggest accounting services providers in the United States, in a cash and…
Meta: $1.4 Billion Settlement In Texas
Meta has agreed to pay a sum of $1.4 billion USD to settle a lawsuit filed by Texas that accused Meta of illegally collecting biometric data on users without their consent, breaching Texas law. According to reports, the allegation was from a Facebook feature that automatically suggests tags with people’s names in photos, using facial…
Tesla Recalls 1,850,363 Vehicles
Tesla has issued a recall of 1,850,363 vehicles in the United States due to an unlatched hood issue. According to the notice from the National Highway Traffic Safety Administration (NHTSA), a software issue failed to detect when the hood is unlatched. An unlatched hood could fully open and obstruct the driver’s view, increasing the risk…